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Ready for the next bubble?

Posted by Scott Van Voorhis January 1, 2014 09:40 AM

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It's been rather quiet lately when it comes to speculation about another housing bubble. Too quiet, I guess.

Market watchers at Trulia, Zillow and Redfin have been dissing this idea, arguing that, with a few local exceptions, there's no evidence yet of a new bubble forming. In fact, the consensus has been a leveling off in prices is just ahead.

But Robert Shiller, co-founder of the Case-Shiller indices, just reinflated the housing bubble debate with some comments New Year's Eve on CNBC.

The occasion was the release of the latest Case-Shiller report, which showed yet another big increase in home prices across the country, including the Boston area. In fact, prices are rising at a pace not seen since 2006, when the last bubble burst.

"In the housing market, it has its own momentum right now as people see it coming back. We're sort of in the beginnings of another housing bubble," Shiller told the business news network.

Are prices too high? Should buyers be worried? What's your take?

This blog is not written or edited by Boston.com or the Boston Globe.
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About boston real estate now
Scott Van Voorhis is a freelance writer who specializes in real estate and business issues.

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